Customs Duty Exemption on Petrochemical Imports Extended: What Does it Mean?
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Centre extends Customs Duty exemption on critical petrochemical imports until July 15, ensuring continued relief for industries and stable domestic supplies.
By Pranjal Gupta
New Delhi, June 30: The Central Government has extended the full Customs Duty exemption on the import of critical petrochemical products by another 15 days, allowing the relief measure to continue until 15 July 2026.
The exemption was originally scheduled to end on 30 June 2026. It had been introduced as a temporary measure in response to the conflict in West Asia, which disrupted global supply chains and affected the availability of essential petrochemical products.
According to the Government, the decision to extend the exemption has been taken as the international situation gradually returns to normal, ensuring a smooth and non-disruptive transition for industries that rely on these imports.
The list of petrochemical products covered under the exemption remains unchanged from the earlier notification.
The temporary duty waiver was introduced to maintain adequate domestic supplies after Indian petroleum companies were asked to prioritise the production of Liquefied Petroleum Gas (LPG) during the period of heightened geopolitical tensions.
The Government said the exemption will continue to support a wide range of manufacturing sectors that depend on petrochemical feedstock and intermediates. These include the plastics, packaging, textiles, pharmaceuticals, chemicals and automotive components industries, among others.
Officials also stated that the continued exemption is expected to help stabilise input costs for manufacturers and provide relief to consumers by reducing pressure on the prices of finished products.
The Government reiterated its commitment to supporting India's manufacturing sector while ensuring the uninterrupted availability of critical industrial raw materials.
